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Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
 In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance even after the banning of Russian oil delivered by sea, Russian refined products will be banned within Q1--2023 and crude oil will be banned in December 2022.
Prior further expanding on what is Europe's plan to tackle the energy crisis its important to explain that most of European countries are interconnected on a power grid, which allows energy traders / countries to buy and sell energy on the spot depending on their needs / forecast at that time. Without the Grid infrastructure the energy cost for million households the past year could have been considerably higher than what we've faced.
Last week Berlin moved with seizing the local refining unit of Rosneft in Schwedt, meantime their government is also working to nationalize Uniper SE, steps towards a direction to be more dependent and further control the energy production. Up to now we still haven't seen Russia's retaliation on that move.
Now European diesel buyers are stepping up, the Russian diesel still trades on a discount, but not at the discount traders were enjoying on May, i.e., $30pmt but anything between $6pmt to $10pmt for NEW and Med respectively. Worth mentioning that due to price backwardation (oil prices expected to be lower than the price if were supposed to be bought today) traders are still avoiding cargo stocking as their not adding any value on their books.
Russia to year still supplied 44% of the total diesel supply and Rosneft posted a 13$ rise in midyear profit.
The East CPP MR and LR market remains bullish, with MR's leading the race in Feast markets, at present the MR Pacific basket is averaging $67,000 pdpr. Moving to MEG and WCI market softens slightly but still very healthy rates for MR's and LR1's. 35KT SIKKA/JAPAN stand at $38,000 pdpr and TC5 55KT AG/JAPAN $54.593 PDPR.
MR Atlantic basket has significantly improved since early December with TC2 (37KT ARA/USAC OR WAF stands at $30,441 pdpr for USAC discharge and $35,676 pdpr for WAF. The Backhaul from USG performs poorly if compared to last week $13,598 pdpr and LR1 60KT ARA/WAF $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- GMR Energy Limited - India
- The University of Queensland
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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